The deal, which was finalized in Dublin recently, will license Bedminster International's new waste management technology to Samsung for use over the next two years. In addition to the licensing agreement, they also reached an engineering service agreement that will open up to 20 new jobs for in Southeast Asia, bringing the total value of the contract to $4 million.

"Waste management is a major global issue, and Samsung Heavy Industries is well equipped to deliver a safe, sustainable solution in Korea and overseas," said the executive director of Samsung Heavy Industries, Chunhak Kim. "In our global search for a reliable MBT technology partner, we were extremely impressed with Bedminster management and our technical team found the Bedminster technology to be robust, economic and safe, with several reference facilities to prove it worked."

Bedminster International is a member of Enterprise Ireland that operates in the cleantech sector, providing BioEnergy technology and related engineering services to clients around the world.

"Bedminster is delighted to have come through a comprehensive selection process in the face of some strong international competition," said Bedminster International Chief Executive Officer Pearse O'Kane.

Bedminster International is the Irish entrepreneurial company leading the green movement in the conversion of municipal waste to compost and/or fuel for green renewable energy. For many years the patented Bedminster Digester/MBT Technology has been successfully deployed in the separation and conversion of waste worldwide. Bedminster has 12 operations already in North America, Australia and Japan, along with new facilities under construction in England and the Caribbean.

Formed in 1974, Samsung Heavy Industries, a wholly owned subsidiary of the world renowned Samsung Group, has built up annual revenues of $10 billion as a world leader in the shipbuilding, offshore plant, engineering & construction, and digital system industries.